In the global offshoring market, the Philippines is seen holding on the third spot with a revenue for the year expected to reach US$10.7 billion for a 7.4 percent share to the market. The Canada based research firm XMG Global said with an estimated global take of US$61.5 billion or 42.5 percent of offshoring in 2011, the India will continue to be the world leader. The second is China with a 31.5 percent share of the pie and US$45.7 billion in offshoring revenue.
This year, the global offshoring market to hit US$144.8 billion. The overall outsourcing market should register US$464 billion in revenue. It is 9.2 percent better than the US$425 posted a year ago. The Philippines and India countries were highly dependent on their Unites States-based clients for their revenues. The industry players in the Philippines and India had already started to feel the adverse effects of the weak dollar. The XMG Global chief analyst Lauro Vives said that the US economy remains to be the large market for offshoring. It is still on the road to recovery with as forecasted 2011 growth rate of 2.6 percent then slowing down from last year’s 2.9 percent.
The Chinese outsourcing service providers, concurrently were hardly swayed as most of them relied more on East Asian clients including the Korea and Japan. Even though the Japan crisis had little effect on China’s outsourcing revenue although the temporary halt in the implementation of some outsourcing contracts from Japan. The XMG Global said that the disaster may open more opportunities as Japanese companies consider increasing offshoring contracts for non-core operations to reduce business risk.
By 2016, the revenues from information technology and business process outsourcing in the country could hit at least US$20 billion.and as high as US $25 billion with stronger public private partnership, this is according to the Business Processing Association of the Philippines’ Road Map 2011-2016.
Information Technology and Business Process Outsourcing is the best key to have a successful business. Most of the businesses prefer outsourcing because they know that this will be a big a help to the development of the business. Nowadays, most of the people want to outsource because in outsourcing there’s a money. There are lots of benefits and opportunities in outsourcing. The Philippines is the hottest destination when it comes in outsourcing. The boom is led by the demand for offshore call centers. As a number three in global outsourcing, the Philippines continues to expand so that the Philippines will be the leader in outsourcing. There is nothing impossible when you work hard.
REFERENCE:
http://www.chinapost.com.tw/business/asia/philippines/2011/07/21/310496/Philippines-seen.htm
http://ph.news.yahoo.com/philippines-seen-remain-no-3-global-outsourcing-091003449.html
http://business.inquirer.net/7875/philippines-seen-to-remain-no-3-in-global-outsourcing
http://www.codelean.com/da/News/11-07-22/Philippines_to_Remain_Global_Outsourcing%E2%80%99s_No_3.aspx
http://story.philippinetimes.com/index.php/ct/9/cid/0267775d6f1c3971/id/47062766/
